It’s cheaper to keep it
If these financial strains force the New Jersey’s nuclear plants to close there would be significant economic and environmental consequences for New Jersey:
- Higher electricity costs: $400 million more per year for New Jersey families and businesses; Average customer’s bill will go up more than $43 a year.
- Lower GDP: A reduction of $809 million in New Jersey’s annual gross domestic product;
- Job losses: 5,800 fewer jobs in New Jersey;
- Reduced state revenue: $37 million less in state taxes: and
- More air pollution: 14 million tons of CO2 and tens of thousands of tons of other pollutants each year, at total social and public health costs of $733 million.
Two economic studies found that New Jersey’s nuclear plants are critical to the state’s economy and to maintaining a resilient, affordable supply of electricity for 6.2 million people. Below, see these studies, along with PSEG Chairman Ralph Izzo’s Dec. 4 testimony at a joint committee hearing of the New Jersey Assembly and Senate, stressing the importance of nuclear energy for New Jersey.
Produced by PSEG Power LLC